Well looks like the new Canadian guy can get his oil pipeline components a lot cheaper this month.
Continued bearish with fresh reductions in October; China probably getting ready to dump a s-load.
EU domestic flat product selling values continued to decline, in October, driven down by low import quotations and decreasing raw material costs.
EU #STEELPRICES DECREASE AS IMPORT THREAT INTENSIFIES https://t.co/yP3ARVQIpE
— Meps International (@mepssteelprices) October 21, 2015
Bullish for the dollar, no?
ReplyDeletePerhaps Mike if US net imports a lot of steel... maybe if US didnt before, US will now with the low prices...
ReplyDeleteThe price reductions like this are generally bullish for the import nation's currencies... USD, GBP, etc...
Might also show up in other finished goods...
Need to create a composite index of import/export goods with volume/price weightings...